Hong Kong Regulations

MANDATORY PROVIDENT FUND SCHEMES (WINDING UP) RULES - RULE 4

Requirements as to making of winding up applications

(1) A winding up application must be made by originating summons.

(2) A winding up application must be accompanied by-

   (a)  an affidavit of a designated person as defined in section 6F(2) of the
        Ordinance; and

   (b)  a winding up proposal.

(3) The affidavit referred to in subrule (2)(a) must-

   (a)  state the grounds for making the winding up application; and

   (b)  verify the facts on which the application is based.

(4) The winding up proposal referred to in subrule (2)(b)-

   (a)  must specify whether or not there are any scheme assets in the
        registered scheme to which the application relates and, if there are,
        the proposed arrangements for transferring, realizing or disposing of
        those assets;

   (b)  must specify whether or not there are any remaining scheme members in
        that scheme and, if there are, the proposed arrangements for
        transferring existing accrued benefits of those members to another
        registered scheme and for making future contributions; and

   (c)  may contain proposals on other aspects of the winding up, including
        arrangements in a case where the Court does not appoint a liquidator.